KING OF PRUSSIA, Pa. -- July 19, 2011-- InterDigital, Inc. (NASDAQ: IDCC) today announced that its Board of Directors has initiated a process to explore and evaluate potential strategic alternatives for the company, which may include a sale or other transaction.
"We continue to be optimistic about the prospects for the company under its current business plan," stated Terry Clontz , Chairman of InterDigital's Board of Directors. "That said, over the past year we have seen the value of intellectual property rise substantially as major players in the mobile industry increasingly understand the strategic and economic value of this type of asset. As a result, the Board believes it is an appropriate time to explore potential strategic options that may enhance shareholder value."
The company has retained Evercore Partners and Barclays Capital as its financial advisors to assist with the strategic review process. In making the announcement, InterDigital ® stated that there can be no assurance that this strategic review process will result in a transaction. The company has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction is approved by the Board of Directors, the review process is concluded or it is otherwise determined that further disclosure is appropriate or required by law.
InterDigital develops fundamental wireless technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies.
For more information, visit: www.interdigital.com